EV Startups' Struggles: Rivian & Lucid Mirror Tesla

The electric vehicle industry in the US is facing turmoil, with major startups like Nikola and Canoo filing for bankruptcy. Only Rivian and Lucid Motors remain, but their stocks have plummeted. Despite attempts to mimic Teslas success, both companies are struggling with declining sales. Rivian, in particular, is following Teslas lead with a new chip, robotaxi plans, and a driver-assistance package. However, its still not profitable, needing fresh capital and no clear path to sustainability.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.